Regionally, the global Zellweger spectrum disorder market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of impeccable research and healthcare infrastructure. There is a provision for the screening test for newborn babies, which leads to the availability of highly developed diagnostic equipment. According to the data by the World Bank, North America spent 2.734% of its GDP for R&D activities in 2018. On account of this, the global Zellweger spectrum disorder is expected to grow in the region during the forecast period
The global Zellweger spectrum disorder market is expected to grow significantly in Europe region, on account of rising initiatives for the detection and treatment of the disorder. The doctors are more vigilant and render genetic counseling to the parents, which is why, the global Zellweger spectrum disorder market is projected to witness significant growth over the forecast period.
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The global Zellweger spectrum disorder market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Our in-depth analysis of the global Zellweger spectrum disorder market includes the following segments:
March 2, 2022: Trivitron Healthcare has acquired the complete shareholding of USA based company The Kennedy Company, manufacturer of radiation protection X-ray shielding material and acoustic barrier products.
October 30, 2021: Blueprint Genetics has enhanced the clinical utility of its testing by adding 650 genes to 55 panels across 13 medical specialties
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The aggressive research and growing awareness regarding rare diseases are the major factors driving the growth of the market over the forecast period.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 - 2031.
Ans: The major players in the market are GeneDx, LLC, Blueprint Genetics Oy., Siemens Healthcare Gmbh, Carestream Health Inc, and Agfa-Gevaert Group.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by therapy, diagnosis, end-user, and by region.
Ans: The hospital segment is anticipated to hold the largest market size in value over the forecast period and display significant growth opportunities.
Ans: High cost of therapies and lack of clinical data are estimated to hamper the market growth.
Ans: The North America region is expected to provide more business opportunities for the growth of global Zellweger spectrum disorder market over the forecast period.